Relationships with stakeholders

For LATAM, relationships with different social stakeholders represent an opportunity for joint construction and a steady growth.

The main stakeholders of the LATAM Group were identified in a process carried out by the Vice President of Corporate Affairs aimed at defining critical issues and systematizing a management model of corporate relationships with stakeholders; identifying areas of bonding with each stakeholder group, including indicators and monitoring; establishing channels of communication and permanent bonding, coordinated, transparent and defined in order to achieve articulated and reliable relationships; and, finally, to generate joint actions that would permit identifying gaps and opportunities.

The main stakeholders thus identified are:

Academia

Shareholders

Trade unions

Risk classification (rating) agencies and market analysts

Cargo clients

Passenger clients

Collaborators

Local communities

Airport concessionaires

Public and regulatory entities

Sector specialists

Industry

Investors

The communications media

NGO’s / Foundations

International organizations

Primary suppliers

Secondary suppliers

Work unions

Third parties and subcontractors

These categories were subdivided according to their potential impact to the company and their relative level of influence.

Through its relationships with governmental bodies and sector entities in the different markets in which it operates, LATAM keeps an active role on issues that have a direct or indirect bearing on its business strategy, which is always exercised in full compliance with the applicable legislation and with LATAM’s rules as set forth in its Code of Conduct and its internal policies. Over time, we have sought to strengthen our participation in trade or industry bodies representing the airline industry. We act globally through IATA, which is a key forum to discuss new technologies, operational security and safety, as well as the current and future challenges of the aeronautic sector. At the regional level, we also participate in the Latin American and Caribbean Air Transport Association (ALTA, in its Spanish acronym), where Mr. Enrique Cueto, CEO of the LATAM Airlines Group, assumed as President in 2015, a circumstance that reinforces the commitment of the LATAM Airlines Group to the aviation industry. Always defending a legitimate and transparent dialogue, we look for joint solutions with a focus on efficiency and profitability. LATAM has teams responsible for monitoring and participating in such debates. In Chile and in other markets, we also work in studying routes and flights that would promote tourism, employment and profitability in locations where we do not currently operate, including the necessary coordination with the communities and their local governments.